- Between February 23 and March 31, the dollar’s fluctuation against major currencies was trendless.
- The GBP lost 5.12 percentage points against the dollar, and the JPY fell by 4.21%. Meanwhile, the euro rose by 1.61%. The SWF's slight slump (-1.54%) reinforces the hypothesis that investors still perceived the market situation as favourable.
- To make sense of why this happened, one has to understand that the dollar was structurally feckless in 2020.
- In effect, as the situation worsened in Europe and elsewhere, demand for dollars increased exponentially.
For further details see:
Killing The Dollar: A Side-Effect Of COVID And Its Cures?